RHB Retail Research
Technical Analsysis - Chin Well
Chin Well formed a long white candle yesterday, indicating that the momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the upward momentum from 28 Aug’s upside gap. A bullish bias may emerge above the MYR1.71 level, with an exit set below the MYR1.59 threshold. Towards the upside, the immediate resistance is at MYR1.85. This is followed by the MYR1.94 level.
Source: RHB Securities Research - 4 Sept 2018
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